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Multifamily

Riverside Village Apartments

650 Dixon Blvd, Cocoa, FL 32922

Listing Price: $4,900,000

Cap Rate
7.17%
Number of Units
52
Price/Unit
$94,231
Price/Gross SF
$172.54
Gross SF
28,400

Investment Overview

52-unit multifamily community in Cocoa, Florida (Space Coast region) On-site laundry facility and leasing office

Investment Highlights

  • Immense value-add opportunity through property stabilization
  • 13 down units that can be brought back on-line, realizing a 7.53% cap rate, 12.7% cash-on-cash return or 23% leveraged IRR by the end of Year 1
  • Approximately 90% of rent-ready units have been upgraded with stainless steel or white appliance packages, white cabinets, faux granite countertops, upgraded vanities and keyless entry
  • Located in Florida's "Space Coast"; home of NASA, SpaceX and Blue Origin
  • Situated less than five miles from SpaceX's Rocket & Assembly Site and 13 miles from the Launch & Landing Control Center at NASA's Kennedy Space Center
  • Located 11 miles from Cocoa Beach and the Atlantic Ocean and 48 miles from Downtown Orlando
  • Situated 0.1 miles from the Indian River (not in a flood zone) and US Highway 1 which sees 37,000 cars daily
  • Two of the three roofs replaced in the last five years

Exclusively Listed By

Financing By

  • Jared Cassidy

    First Vice President Capital Markets

    Direct:

    Email Jared

    Washington, D.C., MD

Multifamily

Riverside Village Apartments

Listing Price: $4,900,000

Cap Rate
7.17%
Number of Units
52
Price/Unit
$94,231
Price/Gross SF
$172.54
Gross SF
28,400

Investment Highlights

  • Immense value-add opportunity through property stabilization
  • 13 down units that can be brought back on-line, realizing a 7.53% cap rate, 12.7% cash-on-cash return or 23% leveraged IRR by the end of Year 1
  • Approximately 90% of rent-ready units have been upgraded with stainless steel or white appliance packages, white cabinets, faux granite countertops, upgraded vanities and keyless entry
  • Located in Florida's "Space Coast"; home of NASA, SpaceX and Blue Origin
  • Situated less than five miles from SpaceX's Rocket & Assembly Site and 13 miles from the Launch & Landing Control Center at NASA's Kennedy Space Center
  • Located 11 miles from Cocoa Beach and the Atlantic Ocean and 48 miles from Downtown Orlando
  • Situated 0.1 miles from the Indian River (not in a flood zone) and US Highway 1 which sees 37,000 cars daily
  • Two of the three roofs replaced in the last five years

Investment Overview

52-unit multifamily community in Cocoa, Florida (Space Coast region) On-site laundry facility and leasing office

Exclusively Listed By

Financing By

  • Jared Cassidy

    First Vice President Capital Markets

    Direct:

    Email Jared

    Washington, D.C., MD

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